ZURICH (News release) -- Amcor completed the sale of its 50% interest in Bericap North America (BCNA) for $122 million on December 27, with the proceeds used to reduce debt.

Fiscal 2024 total sales for the joint venture were approximately $190 million and adjusted EBIT was approximately $19 million, both of which were previously fully consolidated under Amcor's Rigid Packaging business. Adjusted net income attributable to Amcor for fiscal 2024 was approximately $8 million. Net of the resulting reduction in interest expense, the transaction is not expected to have an impact on Amcor's financial outlook for fiscal 2025.

Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products.